Cryptocurrency reach villages

Cryptocurrency seems to be taking the world by storm. It’s reaching every nook and cranny. Even the remotest place on earth have started to appreciate the power of cryptocurrency.
Recently in Japan, a village called Nishiawakura is turning to cryptocurrency to raise funds in order to strengthen its economy.
The village consists of 1500 people in the Okayama prefecture in Japan. It disclosed its plan to launch a regional initial coin offering in the process to raise fund.
Forestry is the sole source of income in this village. The municipality relies heavily on forest income. About 95% of the village is made up of forest according to an official announcement
Nishiawakura Coin (NAC) will be issued by Nishiawakura’s Token economy. Although the exact date of launching the coin is not stated, the official website offers some details about the ICO.
After the leaders of the village saw the vast potential of cryptocurrency which is being launched across the world with reasonable success, by both by the government and private players, It decided to go ahead with their plan, Nikkie reported on June 16. The official also took cognizance of the fact that the country is moving ahead with the establishment of self-regulatory rules regarding the blockchain funding model.
Yoichi Ochiai quoted, in its release, a Japenese researcher and author of cryptocurrency, claimed that the in coming future the local governments in Japan will appreciate decentralization and make aggressive investments in ICOs.
This is not an isolated case of municipal interest in ICOs worldwide. As previously reported by CoinDesk, the mayor of the Louisiana city of Lafayette pitched an ICO to raise cash

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